Hasbro buying 'Power Rangers' Brand in $522M Deal
Toy giant Hasbro has acquired Power Rangers in a $522 million deal. So Transformers may have some new competition.
Saban also sold some other properties in the deal including My Pet Monster, Popples, Julius Jr., Luna Petunia and Treehouse Detectives in a cash-stock pact valued at $522 million. The toymaker originally paid Saban $22.25 million for a master toy license agreement due to begin in 2019. Saban Brands chief and Power Rangers creator Haim Saban will continue to serve in a consultant role moving forward. The first line should be out in 2019. Brian Goldner, Hasbro's chairman and CEO says he's ready for Hasbro to unlock Power Rangers full potential.
YES FINALLY. GIVE ME SOME SEQUELS TO 2017's Power Rangers. I need more of that group. Which consisted of Dacre Montgomery (now of Stranger Things), Naomi Scott (Disney's upcoming Aladdin), RJ Cyler, Becky G, and Ludi Lin.
This is more of Goldner's statement below.
“Power Rangers is an iconic brand built on a heritage of great storytelling and merchandising with tremendous upside potential when fully executed across Hasbro’s Brand Blueprint, Shortly after entering into our licensing arrangement, it became clear that now was the time to begin investing in unlocking Power Rangers’ full potential. We see significant opportunity for Power Rangers across our entire Brand Blueprint, including toys and games, consumer products, digital gaming and entertainment, as well as geographically throughout our global retail footprint."
Haim Saban created Mighty Morphin Power Rangers in 1993. The franchise has gone under many different incarnations over the years but it is one of the longest running kid's live-action TV series with 900 episodes to date. In 2017, which I mentioned above Power Rangers made its way to the big screen. Power Rangers in March 2017; it grossed $85.4 million domestic and $142.3M worldwide.
Haim Saban commented on the deal:
"25 years after launching Power Rangers, I believe the future for this brand has never been greater, Hasbro’s leadership in innovation, storytelling and brand stewardship make it the perfect company to further develop the global reach and appeal of the Power Rangers property. I look forward to working with Brian and the team in the years to come.”
Most seasons of Power Rangers revolve around a group of ordinary teens who morph into heroes, and defend their world from evil.
I hope Hasbro has some sequels in mind. That would make my day. This was a massive deal but like we've seen with Disney purchasing Fox and T-Mobile-Sprint merging. Industries are changing rapidly and businesses are just trying to keep up.
Source: Deadline
